That was a period of intense work, and not the first this office would see. It was a time of building trust, building true relationships with banks throughout the region. Little did Plante Moran know that those relationships, that trust, would come into play very soon. “The recessionary period of 2008-2011 proved to be an obvious challenge for community banks. Over that time, our team was faced with a lot of hard conversations and a very fluid market,” said Bondy. “Accounting matters were front-page news, and our clients were looking to us for guidance and assistance to navigate the landscape. I remember late nights working with one of my client CFOs preparing for board meetings to cover dismal financial results, decisions on reducing head count, closing branches, and how to manage the liquidity strains at their holding company. The board looked to our firm as a source of confidence in the decisions they were making.”
Growing in Chicago
Brady Nitchman has been leading the firm’s Chicago-based banking practice that serves Illinois, Northwest Indiana, Iowa and Wisconsin for nearly thirteen years. Since 2004, under Nitchman’s guiding hand, the practice has grown to fifty people serving eighty-five bank clients. “We work hard to serve our clients,” said Nitchman, “in good times and bad.”
That, according to Nitchman, is where they succeed. It is the basis of their relationship-building. “We’re good at putting our clients first,” he explained. “It’s part of being future focused. Sometimes that means making sure our client has a future.”
That scenario has repeated itself as the economy and bank regulations change from year to year, and administration to administration; but one case where the entire firm came together stands out to Nitchman as illustrative of the way Plante Moran approaches its clients. “During a bank client’s significant capital raise, there was a technical issue around a change in control
and the preservation of certain tax assets. The investors were threatening to pull out of the deal, but we brought in our national tax office experts, and they showed them how the impact of the change still made for a good deal. They saved the transaction. The bank’s president told
me later that our work not only saved the deal, it likely saved the bank. That’s not just looking to the future. That’s helping to preserve it.”
The Firm of Choice:
Building Relationships, Forging the Future Every success that Plante Moran has had comes
down to its ability to build relationships with its clients, state and federal regulators, and with the other members of the financial services industry to preserve the future for its clients. This interconnectedness places the firm in a prime position to assist the banks that have come to depend on them. That, together with the expertise Plante Moran’s people bring, and a company
culture that refuses to give up on the bank with which they’ve partnered, has made Plante Moran, as Brian Pollice put it, “the firm of choice for community banks.”
Brian Pollice, Plante Moran’s Financial Services Group Leader
For more information on Plante Moran, please visit their website, www.plantemoran.com.
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